Find out more about Papaya Global Ad ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly devoted to handling payments. This offers us with a safe and trusted method of making payments to our 10,000 staff members worldwide.}
The advanced international payroll management app enhances my payroll process, conserving me a significant quantity of time monthly. With its easy to use interface, I have access to a single control panel that efficiently handles my payroll, EOR, and contractors.
Worker Portal
Staff members have access to a Worker Website where they can view their pay slips, wage and tax declarations and work files. The website is readily available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies use competitive advantages bundles to international employees no matter the number of employees in the business. The business can set up health insurance, short-term and long-term disability, vision, oral and maternity leave while removing the requirement to source regional advantages providers in every country, develop local accounts and have a minimum variety of employees.
The HR abilities supplied by Worldwide HR encompass numerous functions such as monitoring holiday time, making sure compliance, facilitating the procedure of welcoming new employees and bidding farewell to departing ones, offering a safe online platform for storing workers' files, and offering assistance for work permit treatments in case your workers require assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force variety, overall employment costs dispersed per location, overall employment costs per cycle and a lot more.
Internationally, I have actually demonstrated management and tactical competence in directing massive populations of over 100,000 workers throughout 170 countries. Currently, I am responsible for managing payroll strategies, as discussed by Mark. My role includes managing and developing external partnerships, supporting Business customers, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
company to make the time 100 list for most prominent companies in the world we offer payroll payments and workforce management to all employee key ins over 160 countries I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning good afternoon good evening depending upon where you remain in the world it's lovely to meet you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've been in the payments industry for over ten years and particularly working on the payroll and payment sector for over 7 years um I was interested by the complexity the difficulty in all of the above of
payroll payments and decided to kind of make a real go at that over the last 5 or six years where I've sort of had a range of various roles on the supplier side and also on the supplier side from a payroll perspective so truly anticipating this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll simply provide everyone another number of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite interesting and I can see it going on already just to hear where everybody is um it's nice to to type of like see where everyone comes from and I actually do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's extremely really gloomy and I want I was somewhere else at this moment in time alright so let's get going our program for today is as follows um we are going to be taking a look at the obstacle years of managing Worldwide payroll why companies maintain different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts simplifying papaya Worldwide payroll payments as a strategic asset uh we'll likewise review a wrap-up and that needs to leave his time at the extremely really end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces end up being a growing number of common and handling them becomes more and more complex Worldwide companies are looking to discover Solutions and new methods to enhance processes specifically from a payroll and cross-border payment standpoint many companies keep different bank account just for payroll while some have multiple accounts in different nations does it make good sense for business to maintain separate checking account sometimes in different countries it does but just for payroll is there a better method what function do virtual accounts and digital wallets likewise called virtual wallets play in helping international companies simplify the episode complex processes of
making payroll payments properly effectively safely and on time during this webinar we'll stroll you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll checking account how business precisely forecast their payroll expenses to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a tactical property so payroll can be tough in adequate in one nation however when you're doing it worldwide it's next level and Beyond it becomes intricate for a range of factors most importantly policies compliance information security and banking guidelines then there are the sheer numbers they add additional complexity the global Workforce is presently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people that number is currently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing around the globe in the standard payroll model there's frequently a frustrating variety of different systems causing lengthy manual procedures and silos the number of Combinations could be non-existent in large quantities and or very very basic there's no genuine consistency structure we're living in an age of tech but payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which just blows my mind every time I I believe
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of businesses state they have Labor force information in real time that's another number that gives me sleepless nights and quite frankly the more a company spends on worldwide payroll the less of a photo they see an absence of visibility likewise extends to payroll payments and inability to accurately track these payments can result in compliance accidents in the last mile of the deal almost half of worldwide companies have actually revealed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are because of time reporting bad HCM information information entry errors poorly communicated hires and terminations as well as absence management and system setups and after that when you round everything off and the data is delivered to the wrong location the average expense of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money worldwide payroll and payments do not run efficiently if they rely on the necessary numerous procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges business face when they're paying to staff members or otherwise that's a great concern I constantly throw this back and state what is it what does not require to be included right and what does
it require to be thought of there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment abilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the client's own in-country account so there's intricacy wherever you look ideal eventually building a knowledge base is absolutely vital but everywhere you look with payroll payment they are like super payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and technology is allowing us to type of progress with that it also too to contribute to that payroll and financing require to work closer together um with differing Bank Account Particulars varying banking requirements and setup procedures is definitely necessary that payroll and finance teams work more detailed together than ever um I'm always impressed when individuals state I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll profession would they divide the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people wherever they are but also paying statutory authorities and on statutory third parties so with the
The modern-day world positions a high value on well-being and the compensation landscape is ending up being significantly elaborate. Businesses are continually presenting new advantages and payment choices, which adds to the overall intricacy. Large corporations often divide their payroll and payment processing into separate teams, which can result in inadequacies and bottlenecks. In my opinion, this does not have to hold true. In today's technologically sophisticated period, there's no reason for preserving cumbersome procedures. Payroll, the business's biggest cost, need to be processed correctly and on time. Even slight delays can negatively affect workers' well-being and have far-reaching effects. For that reason, it's crucial to focus on precise and prompt payments.
payroll group get um so I'm not exactly sure anyone on this kind of webinar has been told thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um however ultimately payroll is such an important cycle all of us hear about it when it goes wrong everyone jumps up and down when it fails however when it goes right it's just a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely important that all of this stuff is done correctly so leveraging the first Global Payments very first payroll payment option is a fantastic primary step um offering an end-to-end payroll service for your workers worldwide once again I think is another huge um procedure once again aligning and guaranteeing you have standardization Global procedures all of those things are definitely crucial to success success of businesses and reducing the number of tools platforms and savings account they require for their Worldwide payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never had a hundred countless them within a payroll cycle do not anticipate to you do get the odd five or 10 or whatever it might be with the with the the problems where things have not gone quite where they're suggested to be um I don't believe any of us are actually doing that for for the thanks
anyhow we understand how how important a function it is and that's why we do it that's why we get on with it and this is why we're talking today about making it as easy as possible for everybody that's involved in those processes and likewise so imagine sorry I'm simply I was simply gon na state envision the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're talking about numerous thousands possibly Millions picture getting that many thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would certainly be a fascinating task attempting to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to look through them and actually see what was going on and sort of shot to return to everybody so carrying on appearance why do business pick to main separate bank accounts there are organizations out there doing precisely this for particular nations and I've worked in an organization or lots of companies doing exactly that I can say it does not always feel effective and it does produce more work I know we're not purposely doing that we're not producing extra work for any person where we do not have to and anybody that's dealing with that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I think many factors one is it's the requirement I believe individuals have actually got so used to we need a brand-new bank account we open an entity and appropriately so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's just been the requirement and the standard the people have actually adopted and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and many other methods um to to sort of do it so I think there's a variety I think this is a process that requires looking at it requires altering but ultimately individuals are very stuck to what they're familiar
with ideal um modification is a difficult thing we all don't like change um so I believe it's just kind of moving away from the norm as we've said so yeah so it keeps a great deal of track of things um I understand certainly the advantages of having keeping several checking account but there's a big amount of intricacy chooses setting up a savings account maintaining it guaranteeing it can send International transfers ensuring it's established with the ideal user accesses for individual people so the complexity is huge however I believe the honest answer is change um individuals have not been able to alter or have not had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a bank account I believe you've hit the nail on the head I believe it is understanding you know and there is a component of resistance to change however we have actually always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what could practically be identified to be the next Century approximately there is a lot to track and this approach does position a number of difficulties um so Johnny could you tell us about those challenges yeah naturally so there's a range right there is so
I just did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global employees you deserve a corner workplace with a closer parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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